If you sold a unit, there’s a one-in-four chance you sold for less than your purchase price. Ouch!
The latest CoreLogic Pain and Gain Report shows the gap between Brisbane’s house and unit markets persists.
More broadly in South East Queensland resales at a profit were highest in Redland (94.6%), Logan (93.0%) and Sunshine Coast (92.8%).
Whereas the instances of resales at a profit were lowest in: Lockyer Valley (78.9%), Scenic Rim (88.0%) and Ipswich (88.6%).
Nationally, 89.8% of all dwellings resold for more than the purchase price, which is a slight improvement on the March quarter result of 89.5%.
Here’s a fun fact which is dripping with irony: owner occupiers were the biggest winners in the resale stakes with 92.3% recording a profit compared to just 88.1% of investors. Guess those investments didn’t go to plan.
The moral of this story? We’re not sure there is one.
But it pays to remember that property is a long-term game and buying in a steady, reliable market and using local knowledge to inform your purchase will give you the best chance of a future pay day.
Want to maximise gain and minimise pain? View our current listings for sale or talk to us about selling.
